Sept. 6 (Bloomberg) -- Clipper Windpower Plc, a turbine maker and operator, said it will combine its wind development business with Helium to create Clipper Capital and Generation.
Clipper Windpower will own 72 percent of the new business, known as Capgen, Clipper said today. Helium is a subsidiary of Hemeretik, a construction, energy and real estate group, it said.
Capgen will have 10,500 megawatts of windfarms, with 9,500 megawatts coming from London-based Clipper, said James Dehlsen, chief executive of Clipper. Governments are introducing laws to boost generation from non-fossil sources to curb climate change.
The new business will be run by Pedro Barriuso, who as head of renewables at Iberdrola SA oversaw an increase in wind-power capacity to 4,300 megawatts by July 2006 from 800 megawatts in February 2002. Capgen will probably be a ``long-term affiliate'' of Clipper, Dehlsen said today by telephone.
Clipper fell 0.5 pence to 530 pence as of 8:05 a.m. in London, valuing the company at 569 million pounds ($1.2 billion). They've fallen 11 percent year to date.
To contact the reporter on this story: Mathew Carr in London at m.carr@bloomberg.net ; Stephen Voss in London at sev@bloomberg.net
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